South America Calling
Alastair Stewart South America Correspondent

Thursday 12/06/12

Brazil's Government Pegs 2012-13 Soy Crop at 82.6 MMT

Brazil's Agriculture Ministry Thursday refined its 2012-13 soybean crop forecast to 82.6 million metric tons (mmt) from a range of 80.1 mmt to 83.0 mmt.

Basically favorable weather conditions have left the crop in good condition across the whole of Brazil's grain belt, the ministry's Food Supply Company (CONAB) said in its third report on the current crop.

Bean plants have fared best in Mato Grosso, Parana and Goias, the No. 1, 2 and 4 producing states, it said.

In Rio Grande do Sul, the No. 3 state, dry weather in October and November did cause a moisture deficit but that has been largely corrected by precipitation over the last couple of weeks, said the report.

This positive take on the crop outlook puts the government figure at the top end of forecasts for this season's soy, which range from 79 mmt to 83 mmt.

Local soybean output will bounce back from a drought-stricken 2011-12 in which Brazil produced just 66.4 mmt.

The CONAB figures are closely watched as its crop survey is the most exhaustive of all undertaken in Brazil.

The latest survey was conducted between Nov. 19 and Nov. 23.

CONAB pegged combined first- and second-crop corn production at 71.9 mmt, narrowing down from a range of 71.6 mmt to 72.9 mmt forecast in November.

First-crop output is seen rising 1.8% to 34.5 mmt, despite a 5.5% slide in planted area as farmers switched to soy.

Since it is planted earlier than soy, first-crop corn was worse affected than soy by the drier weather the month of dry weather in October and November. But while planting was delayed, there was no lasting damage to crops, which are responding well to showers over the last weeks, said the report.

(AG/SK)

Posted at 6:35AM CST 12/06/12 by Alastair Stewart
Comments (1)
The estimates from within the countries are most helpful. It helps to keep the stories of flood and drought in prospective. It seems things are going well. I enjoy the updates but not necessarily their implication.
Posted by Freeport IL at 8:01AM CST 12/15/12
Post a Blog Comment:
Your Comment:
DTN reserves the right to delete comments posted to any of our blogs and forums, for reasons including profanity, libel, irrelevant personal attacks and advertisements.
Blog Home Pages
August  2014
S M T W T F S
               1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31                  
Subscribe to South America Calling RSS
Recent Blog Posts
  • Brazil's Soybean Market Firm
  • Brazilian Soybean Exports Slip in June
  • Argentine Soy Farmers in a Tough Spot
  • Brazil Cuts Tariffs on Wheat Imports
  • Rains Slow Brazil's Mato Grosso Corn Harvest
  • Brazilian Non-GM Soy Premiums Ebb
  • Argentine Debt Default and Farmers
  • Corn Ethanol and Brazil
  • Soybeans Leads Brazilian Exports in 2014
  • Argentine Biodiesel Exports to Recover in 2014
  • Brazil's Ag Ministry Raises Corn, Wheat View
  • Brazil to Raise Biofuel Percentage in Diesel
  • Brazil's Lack of Refuges
  • Brazil's Winter Soy
  • Brazil's Second-Crop Corn
  • Brazil's Second-Crop Soy Fail
  • Brazil Announces $70 Billion Farm Credit Plan
  • Brazil Says BSE Case Likely Atypical
  • Brazil Exports Record Volume of Soy in April
  • Brazilian Farmers Take Out Nearly $2 Bln In Silo Financing